Stocks end higher; Rupee strengthens
20 September, 2012
Pakistani stocks ended higher on Wednesday as investors remained interested in oil stocks and high foreign investment.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.46 percent, or 71.47 points, higher at 15,588.66, on total volume of 131.86 million shares.
"Oil stocks, which have the heaviest weight, in index climbed. Investors chose to invest in oil stocks. Good dividends in oil stock kept investor interest alive in that sector," said Samar Iqbal at Topline Securities.
In the currency market, the Pakistani rupee ended slightly higher at 94.48/94.54 to the dollar, compared to Tuesday's close of 94.53/94.58.
Overnight rates in the money market ended at 9.50 percent compared to Tuesday's close 10.40 percent.